Excite Technology Services Limited (ASX: EXT) announced on 7 July 2026 that it has upsized its previously announced placement, securing an additional $240,000 in firm commitments before costs. This increase brings the total capital to be raised under the placement to $3.5 million, up from the initial $3.26 million. Excite Technology Services Limited offers comprehensive cybersecurity services, including threat prevention, managed cloud and IT services, specialist digital forensics, incident response, forensic investigations, and accredited training to ensure a safe Australia.
The additional funds were secured from existing and new unrelated sophisticated and professional investors, with fully paid ordinary shares (Placement Shares) issued at an issue price of $0.006 (0.6 cents) per share. As part of the placement, every two Placement Shares are accompanied by one free-attaching unlisted option (Placement Option). These options carry an exercise price of $0.01 (1 cent) and are exercisable for 36 months from their issue date, entitling the holder to one fully paid ordinary share upon exercise.
The upsize entails the issuance of 40,088,999 additional Placement Shares. Of these, 29,734,858 shares will be issued under the Company’s available placement capacity, specifically 13,598,490 shares under Listing Rule 7.1 and 16,136,368 shares under Listing Rule 7.1A. The remaining additional new Placement Shares and all associated Placement Options will be subject to shareholder approval, which the company intends to seek at its upcoming Annual General Meeting.
The company confirmed that, apart from the increased placement amount, the terms of the placement remain unchanged from those announced to the ASX on 3 July 2026. An updated Appendix 3B, providing further details of the placement, has been released to the ASX concurrently with this announcement.
